KGOU

Avie Schneider

WeWork co-founder Adam Neumann is quitting as CEO amid problems with the workspace sharing company's efforts to go public. The company's valuation, once estimated at $47 billion, reportedly has dropped to less than $20 billion and its initial public offering has been delayed.

A federal appeals court Friday reinstated a lawsuit against Fox News and two other defendants over its coverage of the death of Seth Rich, a 27-year-old Democratic Party aide who was murdered in July 2016.

Updated at 4:13 p.m. ET

T. Boone Pickens, the legendary energy executive who became America's best-known oil tycoon, died Wednesday at age 91. The longtime Dallas resident, who suffered a series of strokes and head injuries in a 2017 fall, died of natural causes, said his spokesman, Jay Rosser.

Apple is entering the video-streaming race, taking on Netflix, Amazon, Disney and others with a monthly subscription of $4.99. The company also announced three new iPhones, even as their sales have been slowing.

Updated at 11:29 a.m. ET

Google and its YouTube subsidiary will pay $170 million to settle allegations that YouTube collected personal information from children without their parents' consent, the Federal Trade Commission said Wednesday.

Updated at 11:35 a.m. ET

Signaling the possibility of more interest-rate cuts, Federal Reserve Chairman Jerome Powell said the central bank will "act as appropriate" to sustain the economic expansion as the trade war with China takes a toll on global growth and the U.S. economy.

Updated at 5:18 p.m. ET

President Trump on Friday announced higher tariffs on goods from China, hours after Beijing said it will slap tariffs on $75 billion of autos and other U.S. goods. Earlier in the day, he "ordered" U.S. companies to stop doing business with China though it was unclear whether he had the power to do that.

Updated at 9:31 a.m. ET

The economy is slowing down, but it keeps creating jobs at a healthy pace. Employers added 164,000 jobs last month, as the unemployment rate held steady at 3.7%, the Labor Department said Friday. The jobless rate remains at a nearly 50-year low.

Analysts had expected about 165,000 jobs to be added in July and the unemployment rate to be 3.6%.

No deal yet.

The brief trade talks in Shanghai this week between top U.S. and Chinese officials were "constructive," the White House said Wednesday, adding that negotiations are expected to pick up again in Washington, D.C., in early September.

"The two sides discussed topics such as forced technology transfer, intellectual property rights, services, non-tariff barriers, and agriculture," the White House said in a short statement. It said China pledged to buy more U.S. farm goods.

Updated at 10:59 a.m. ET

U.S. economic growth fell to a 2.1% annual rate in the second quarter — down from a 3.1% pace in the first three months of 2019, the Commerce Department said. But growth came in slightly stronger than many analysts had expected.

Updated at 12:16 p.m. ET

Facebook CEO Mark Zuckerberg will have to personally answer to federal regulators under an agreement to settle a privacy case with the Federal Trade Commission that includes a $5 billion penalty for the giant social media company, the agency announced Wednesday. Separately, Facebook will pay $100 million to settle a case with the Securities and Exchange Commission for making misleading disclosures about the risk that users' data would be misused, the SEC said.

Updated at 11:25 a.m. ET

Equifax will pay up to $700 million in fines and monetary relief to consumers over a 2017 data breach at the credit reporting bureau that affected nearly 150 million people.

Updated at 1:25 p.m. ET

Given Facebook's track record of broken promises over privacy, U.S. senators said Tuesday that the social media giant can't be trusted when it comes to plans to launch a digital currency.

"Facebook is dangerous," Sen. Sherrod Brown, D-Ohio, said at a Senate Banking Committee hearing. "Like a toddler who's gotten his hands on a book of matches, Facebook has burned down the house over and over, and called every arson a learning experience."

FedEx has been caught in the crossfire in the conflict between the Trump administration and China's Huawei Technologies. Now, the giant shipper is suing the U.S. Commerce Department to block the agency from enforcing export regulations against FedEx.

"FedEx is a transportation company, not a law enforcement agency," the company said in a statement announcing the lawsuit on Monday.

Updated at 11:34 a.m. ET

The Trump administration will delay tariffs on cars and auto parts imports for six months while it negotiates trade deals with Japan and the European Union, the White House announced Friday.

Updated at 4:17 p.m. ET

The Dow Jones Industrial Average plunged 473 points on Tuesday after Trump administration officials accused Beijing of reneging on commitments it had already made in trade talks. The blue chip index, which earlier was down more than 600 points, closed the day down 1.8%.

Other indexes also fell, with the S&P 500 down about 1.7% and the Nasdaq composite down nearly 2%.

Updated at 1:24 p.m. ET

Stephen Moore, a Trump campaign adviser and conservative pundit, has withdrawn his name from consideration to serve on the Federal Reserve Board, President Trump said Thursday.

"Steve Moore, a great pro-growth economist and a truly fine person, has decided to withdraw from the Fed process," Trump said in a tweet.

Updated at 4:28 p.m. ET

Uncertainty.

That's what Boeing says is in store for the company and its investors as it tries to get approval for its 737 Max to return to the air.

Boeing said Wednesday its profits fell 13% in the first quarter and that the grounding of its 737 Max aircraft following two deadly crashes will cost the company at least $1 billion.

With its folding 7.3-inch screen, Samsung's Galaxy Fold was touted as the biggest Galaxy phone yet. Priced at nearly $2,000, the folding smartphone was due to go on sale this Friday. But Samsung announced on Monday that it's delaying the release after reviewers found problems with the phone's screen.

Apple announced on Monday a new video-streaming service, Apple TV+, to compete with Netflix, Hulu, Amazon Prime and others. It also unveiled a new credit card, tied to Apple Pay, and Apple News+, a subscription news service.

The iPhone has traditionally been Apple's biggest moneymaker, but those sales have been slowing, so the company is looking to make services a bigger part of its business.

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